January 1, 2016, Hage Corporation granted options to purchase 9,000 of its common shares at $7 each. The market price of common stock was $9 per share on March 31, 2016, and averaged $9 per share during the quarter then ended. There was no change in the 50,000 shares of outstanding common stock during the quarter ended March 31, 2016. Net income for the quarter was $8,268. The number of shares to be used in computing diluted earnings per share for the quarter is a. 50,000 b. 52,000 c. 53,000 d. 59,000
January 1, 2016, Hage Corporation granted options to purchase 9,000 of its common shares at $7 each. The market price of common stock was $9 per share on March 31, 2016, and averaged $9 per share during the quarter then ended. There was no change in the 50,000 shares of outstanding common stock during the quarter ended March 31, 2016. Net income for the quarter was $8,268. The number of shares to be used in computing diluted earnings per share for the quarter is a. 50,000 b. 52,000 c. 53,000 d. 59,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
January 1, 2016, Hage Corporation granted options to purchase 9,000 of its common shares at $7 each. The
market price of common stock was $9 per share on March 31, 2016, and averaged $9 per share during the
quarter then ended. There was no change in the 50,000 shares of outstanding common stock during the quarter
ended March 31, 2016. Net income for the quarter was $8,268. The number of shares to be used in computing
diluted earnings per share for the quarter is
a. 50,000
b. 52,000
c. 53,000
d. 59,000
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